M&T Bank (NYSE:MTB) Downgraded by StockNews.com to Sell

M&T Bank (NYSE:MTB) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Other equities analysts have also recently issued reports about the stock. Citigroup boosted their target price on shares of M&T Bank from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Royal Bank of Canada raised their price objective on M&T Bank from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods boosted their price target on shares of M&T Bank from $170.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Bank of America upped their price target on shares of M&T Bank from $160.00 to $188.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Wells Fargo & Company cut M&T Bank from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $170.00 to $165.00 in a report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $184.13.

M&T Bank Trading Up 0.3 %

NYSE MTB opened at $173.20 on Thursday. The company has a fifty day moving average of $168.79 and a 200 day moving average of $155.34. The company has a market capitalization of $28.90 billion, a PE ratio of 11.71, a P/E/G ratio of 3.55 and a beta of 0.76. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.00 and a quick ratio of 1.00. M&T Bank has a 1 year low of $108.53 and a 1 year high of $180.63.

M&T Bank (NYSE:MTB) last posted its earnings results on Thursday, July 18th. The financial services provider reported $3.73 EPS for the quarter, topping the consensus estimate of $3.50 by $0.23. M&T Bank had a return on equity of 9.62% and a net margin of 17.84%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the company earned $5.12 earnings per share. Research analysts forecast that M&T Bank will post 14.23 earnings per share for the current year.

Insider Activity at M&T Bank

In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $172.50, for a total value of $86,250.00. Following the transaction, the insider now directly owns 16,429 shares in the company, valued at approximately $2,834,002.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other M&T Bank news, Vice Chairman Gary N. Geisel sold 500 shares of M&T Bank stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $172.50, for a total value of $86,250.00. Following the sale, the insider now owns 16,429 shares in the company, valued at $2,834,002.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $172.23, for a total value of $172,230.00. Following the completion of the transaction, the director now directly owns 31,796 shares in the company, valued at approximately $5,476,225.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,699 shares of company stock valued at $5,115,349. 0.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On M&T Bank

A number of hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its stake in M&T Bank by 4.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,781,816 shares of the financial services provider’s stock worth $269,696,000 after purchasing an additional 81,004 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of M&T Bank by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,613,174 shares of the financial services provider’s stock valued at $244,129,000 after purchasing an additional 93,113 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of M&T Bank by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,513,452 shares of the financial services provider’s stock worth $229,076,000 after acquiring an additional 44,442 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in M&T Bank by 3.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,398,199 shares of the financial services provider’s stock worth $211,631,000 after purchasing an additional 43,795 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in M&T Bank by 77.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 733,304 shares of the financial services provider’s stock valued at $110,993,000 after purchasing an additional 319,051 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.